What is the Overseas Filipino Bank or OFB?

The Overseas Filipino Bank (OFB) is a policy bank dedicated to provide financial products and services tailored to the requirement of overseas Filipinos and their beneficiaries.

Per the advisory posted by the Department of Finance on their Facebook page:

“Beginning next year (2018), OFWs and foreign-based Filipinos would be able to make use of the Overseas Filipino Bank (OFB). The OFB is focused on delivering quality and efficient foreign remittance services to our Filipinos abroad.

The LandBank and the Bureau of the Treasury (BTr) are also exploring ways of mobilizing the savings of overseas-based Filipinos for them to invest in the country’s capital markets.”